Neptune Insurance (NYSE:NP) CEO Sells $1,253,114.34 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 43,018 shares of Neptune Insurance stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $29.13, for a total transaction of $1,253,114.34. Following the completion of the transaction, the chief executive officer owned 2,154,795 shares of the company’s stock, valued at $62,769,178.35. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

NYSE:NP opened at $27.87 on Friday. The company has a market cap of $3.85 billion and a P/E ratio of 87.10. The stock’s fifty day moving average price is $29.46 and its two-hundred day moving average price is $27.55. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $35.15.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. The firm had revenue of $59.57 million during the quarter, compared to analyst estimates of $56.59 million. On average, analysts expect that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NP has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Neptune Insurance in a research report on Monday, October 19th. Evercore restated an “outperform” rating and issued a $36.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. Weiss Ratings raised shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Neptune Insurance currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

Institutional Trading of Neptune Insurance

A number of large investors have recently modified their holdings of NP. BlueCrest Capital Management Ltd purchased a new position in Neptune Insurance in the 2nd quarter worth approximately $1,418,000. Sei Investments Co. lifted its holdings in shares of Neptune Insurance by 203.3% during the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock worth $1,430,000 after acquiring an additional 39,626 shares during the last quarter. Bank of America Corp DE grew its position in Neptune Insurance by 562.1% in the first quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock worth $907,000 after acquiring an additional 31,833 shares in the last quarter. Renaissance Technologies LLC grew its position in Neptune Insurance by 874.4% in the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after acquiring an additional 144,210 shares in the last quarter. Finally, SummitTX Capital L.P. purchased a new position in Neptune Insurance in the first quarter worth $898,000.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.

Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.